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Buying a home with KiwiSaver

There are two ways KiwiSaver can help first home buyers.

  1. KiwiSaver first home withdrawal
  2. KiwiSaver First Home grant

In some circumstances, if you’ve owned a home before, but no longer have a share in a property, you may still qualify for a KiwiSaver first home withdrawal and/or the KiwiSaver First Home grant. However you can only ever make one home purchase withdrawal from KiwiSaver.

KiwiSaver first home withdrawal

If you have belonged to a KiwiSaver scheme for at least three years and meet the criteria, you may be able to withdraw all of your KiwiSaver savings except for $1,000, and any amounts transferred to your KiwiSaver account from an Australian Complying Superannuation Scheme.

You can choose to withdraw all of the funds that are available, or just some of them. You can also choose whether to withdraw funds as a deposit or as part of the settlement amount.

Please note that you can only make a first home withdrawal once so if you make a deposit withdrawal, you cannot make another withdrawal again at settlement.

If you’re buying a property with a partner who’s also a KiwiSaver member, you may both be able to apply for first home withdrawals.

If you’re successful with a KiwiSaver first home withdrawal, you’ll remain a member of the BNZ KiwiSaver Scheme and must continue making the required contributions (unless you successfully apply for a savings suspension).

Request an estimate

You can request an estimate of how much you might be able to withdraw from your BNZ KiwiSaver Scheme account online.

How to apply 

To apply for a KiwiSaver first home withdrawal, you’ll need to complete the BNZ KiwiSaver Scheme home purchase withdrawal application form PDF 122KB.

You’ll need to provide additional information to support your application, such as the details of your solicitor or conveyancer and a copy of the Sale and Purchase Agreement, and return these with the completed application form.

Once you have completed this form and have all the accompanying documentation, you’ll need to take the form and documentation to a Justice of the Peace, a solicitor of the High Court of New Zealand, notary public or other person authorised to complete the statutory declaration section of the form. Then you can choose to drop your completed form into any BNZ branch, email it to, or send it to: Freepost BNZ KiwiSaver Scheme, Private Bag 92208, Auckland 1142, New Zealand.


We need approximately 10-15 business days to process your application, especially if we have any questions or require additional information from you. So, you should apply as soon as possible. 

If you have any questions about using your BNZ KiwiSaver Scheme savings to help you buy a home, please call us on 0800 269 5494 or email

KiwiSaver First Home grant

The KiwiSaver First Home grant provides eligible first home buyers a grant of up to $5,000 for the purchase of an existing home and a grant of up to $10,000 for the purchase of a brand new home, a home bought off the plans or land on which a new home will be built. This grant is administered and paid by Kāinga Ora – Homes and Communities.

How to apply

You can apply for the KiwiSaver First Home grant if you have belonged and have regularly contributed to a KiwiSaver scheme for at least three years. There are other criteria you’ll need to meet, including household income and house price caps, in order to qualify for this grant. For more information and details about how to apply, please visit the Kāinga Ora website.

Help buying a home if you’ve owned a property before

In some circumstances, if you have previously owned residential property or land, but have sold it, you may still be eligible for a KiwiSaver first home withdrawal and/or the KiwiSaver First Home grant.

How to apply

You’ll need to contact Kāinga Ora for confirmation that you’re in a similar position to a first home buyer before applying. More information is available on the Kāinga Ora website.