KiwiSaver first home withdrawal

⚠️ This entry contains figures or rules that change with government policy or RBNZ settings. Check the current position at the source link below before relying on it.

The KiwiSaver first home withdrawal allows eligible members to withdraw most of their KiwiSaver balance to help buy their first home in New Zealand.

The core rules

• Minimum three years' KiwiSaver membership (36 months of contributions, not necessarily consecutive)
• You must leave $1,000 in the account
• There is no maximum withdrawal beyond that
• Includes your contributions, employer contributions and investment returns
• The property must be one you intend to live in — not an investment property
• You must not currently own, or have previously owned, an estate in land, unless you qualify as a second-chance buyer

Second-chance withdrawals

If you have owned property before but no longer do, and Kāinga Ora determines your financial position is comparable to a first home buyer, you may still qualify.

The process

Contact your provider for a letter of determination, confirming exactly how much you can withdraw. Do this before you start looking — it defines your budget. Funds are generally paid to your solicitor's trust account before settlement, so allow time.

The First Home Grant is gone

The First Home Grant closed to new applications on 22 May 2024 and has not been reinstated or replaced. Any source telling you about a $5,000 or $10,000 grant is out of date.

What remains: the KiwiSaver withdrawal, and the First Home Loan (5% deposit).

Common misunderstanding

It cannot be used for an investment property. You must intend to live in the home, usually for at least six months.

Provider processing takes time — start the paperwork well before you need the funds, not after you go unconditional.

Related terms

Sources

• IRD and your KiwiSaver provider; kaingaora.govt.nz

Last reviewed: 1 August 2026 · General information only, not financial advice.

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