Savings withdrawal to purchase your first home

You may be able to withdraw some of your KiwiSaver savings (provided you leave a minimum balance of $1,000 in your account) to put towards purchasing your first home.

Making a first-home withdrawal

You must have been a KiwiSaver member for three or more years. You can only withdraw money to purchase your first home – not an investment property.

If you have owned a home before, in some circumstances you may still be eligible to withdraw your savings. Your scheme provider may require you to contact Housing New Zealand to determine if you’re in the same financial position as a first home buyer.

What can be withdrawn?

If you’re eligible, you may be able to withdraw some or all of your KiwiSaver savings to put towards purchasing your home.

Effective 1 April 2015 and onwards your KiwiSaver withdrawal may include:

  • your members contributions
  • any employer contributions (voluntary and compulsory)
  • any returns on investment(s) received
  • any member tax credits.

Prior to 1 April 2015, KiwiSaver members were unable to withdraw their MTCs when purchasing their home.

Funds transferred from an Australian Complying Superannuation scheme cannot be withdrawn for the purchase of a home.

How to apply for a first-home withdrawal

You’ll need to apply to your KiwiSaver provider if you want to make a first home withdrawal.

Complying funds

If you’re a member of a complying fund and want to use your savings for your first home withdrawal you’ll need to check with your provider to see if they offer this.