Housing — Savings Access
KiwiSaver First Home Withdrawal
KiwiSaver first-home withdrawal lets eligible members draw down nearly all of their KiwiSaver balance toward a deposit on their first home, after at least 3 years of membership. With the First Home Grant closed in May 2024, this is now the main government-backed route to a deposit.
What is this?
KiwiSaver First Home Withdrawal is administered by KiwiSaver Provider. KiwiSaver Act 2006, s.8
Am I eligible?
- KiwiSaver member for at least 3 years
- Buying your first home in New Zealand (or deemed first-home buyer)
- Property will be your principal place of residence
How much could I get?
You can withdraw your contributions, your employer's contributions, returns, and (since 2015) the government contribution.
Must leave at least $1,000 in your KiwiSaver account after the withdrawal.
The withdrawal is paid to your solicitor, not directly to you.
Rates current as of Budget 2025. Personal amounts depend on your situation.
How to apply
- Contact your KiwiSaver provider to confirm your balance
- Apply to withdraw through your KiwiSaver provider
- Provide a signed sale and purchase agreement
- Funds are typically released within 10 working days
Documents you'll need
- · Sale and purchase agreement
- · Solicitor's details for fund transfer
- · Statutory declaration (first home purchase)
Frequently asked questions
How long do I need to be in KiwiSaver before withdrawing for a first home?
At least 3 years of membership. This includes time with any KiwiSaver provider — if you've switched, your total membership counts.
Can I use my KiwiSaver for an investment property?
No — the first-home withdrawal is for a home you'll live in as your principal residence. Buying an investment property doesn't qualify.
Do I lose the government contribution if I withdraw for a first home?
No. The annual government contribution you've accumulated is included in the withdrawal. You just can't use it twice — once withdrawn, you start fresh.
Related benefits you might also qualify for
KiwiSaver Government Contribution
Get up to $260.72 from IRD each KiwiSaver year by contributing at least $1042.86. See 2026 match rate, eligibility, and the July deadline.
KiwiSaver PIR Rate
Your Prescribed Investor Rate (PIR) decides how much tax KiwiSaver pays on returns. See 2026 brackets (10.5/17.5/28%) and how to fix a wrong rate.
First Home Grant
The First Home Grant ended 22 May 2024. Use KiwiSaver first-home withdrawal instead — up to your full contributions plus employer and govt match.
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