Using KiwiSaver

FIRST HOME

Using KiwiSaver

Money from your KiwiSaver fund can be put towards the deposit for your first home.

Read more about first homes

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Accessing your KiwiSaver

If you are a member of KiwiSaver, you can withdraw funds from your KiwiSaver account to put towards the purchase of your first home.

The criteria you have to meet are:

  • You need to have made contributions of at least 3% of your income for three years.
  • You have to be purchasing your first home, not an investment property.
  • Including your KiwiSaver withdrawal, you need to have a minimum of 10% deposit.

The rules around withdrawals have changed – you can now withdraw funds from your KiwiSaver to put towards your initial deposit, and you can withdraw all but $1000 of your KiwiSaver balance if necessary.

If you transferred money from an Australian superannuation scheme to your KiwiSaver, you can’t withdraw that money to purchase a home.

As a KiwiSaver member you also may be eligible for a HomeStart grant. Check out our Government Assistance page for more information.