KiwiSaver First Home Withdrawal Calculator
Estimate your withdrawable balance, check Kāinga Ora First Home Loan eligibility, and see your deposit gap against 20% / 10% / 5% lending thresholds.
Key Takeaway
You can withdraw almost your entire KiwiSaver balance — minus a $1,000 retained minimum and any Australian-sourced transfers — after 3 years of membership. The First Home Grant was discontinued on 22 May 2024; the Kāinga Ora First Home Loan (5% deposit, income-capped at $95k / $150k) remains available.
Key Facts
Min Retained
$1,000
Min Membership
3 years
First Home Loan cap
$95k / $150k
Low-deposit option
5%
First Home Grant abolished (May 2024)
The Kāinga Ora First Home Grant was discontinued in the Government's pre-Budget announcement on 22 May 2024. This tool estimates your KiwiSaver withdrawal and Kāinga Ora First Home Loan eligibility only. Older calculators still showing a grant are out of date.
Enter a purchase price to see your deposit gap against 20% (standard), 10% (low-deposit), and 5% (Kāinga Ora First Home Loan).
KiwiSaver Withdrawal
After $1,000 retained
Other savings
Total deposit
KiwiSaver Membership Eligible
Three-year minimum membership requirement met.
20% conventional deposit
Needs $150,000
10% low-deposit loan
Needs $75,000
5% Kāinga Ora First Home Loan
Needs $37,500
How KiwiSaver First Home Withdrawal Works
Under Schedule 1 of the KiwiSaver Act 2006, members who have been contributing for at least 3 years can withdraw almost their entire balance to buy a home to live in. Withdrawable components include member contributions, employer contributions, investment returns, fee subsidies, and — since 1 April 2020 — government contributions (the member tax credit).
A minimum of $1,000 must remain so your account stays open. Any retirement savings transferred from an Australian complying super fund under Trans-Tasman portability are ring-fenced for retirement at 65 and cannot be used for a first home.
The withdrawal is released to your solicitor's trust account, not to you personally, and only once you have a signed sale and purchase agreement. Ask your provider how long the release takes.
First Home Grant abolished — what changed
The Kāinga Ora First Home Grant was discontinued in the Government's pre-Budget announcement on 22 May 2024, with the savings redirected to expand social housing.
The KiwiSaver withdrawal itself is completely separate and unaffected. If you see a calculator or article telling you to add grant money on top of your KiwiSaver, it's out of date.
Kāinga Ora First Home Loan — the remaining leg-up
Since the grant's removal, the Kāinga Ora First Home Loan is the main central-government support for first-home buyers. It's underwritten by Kāinga Ora but issued by partner banks (Westpac, SBS, Kiwibank, Co-operative Bank, Unity Money and others), letting eligible buyers purchase with as little as 5% deposit.
Eligibility:
- Before-tax income of $95,000 or less for an individual buyer without dependants, or $150,000 or less for an individual buyer with dependants or for two or more buyers combined
- NZ citizen, permanent resident, or resident visa holder ordinarily resident for 12+ months
- First home, or second-chance equivalent
- Live in the property
- Deposit of at least 5% (including KiwiSaver withdrawal)
Kāinga Ora's current First Home Loan criteria list no house price cap. Normal bank lending tests (serviceability, credit history, debt-to-income) still apply.
Frequently asked questions
Who is eligible for the KiwiSaver first home withdrawal?
You must be a KiwiSaver member for at least 3 years, be buying your first home (or have a Kāinga Ora 'second-chance' determination saying your financial position is equivalent to a first home buyer), and intend to live in the property as your principal place of residence. Trans-Tasman transferred funds from Australian super are excluded.
How much of my KiwiSaver can I withdraw?
You can withdraw your member contributions, employer contributions, investment returns, government contributions (member tax credit, withdrawable for first home from 1 April 2020), and any fee subsidy — minus a minimum $1,000 retained balance. Australian-sourced funds transferred under Trans-Tasman portability cannot be withdrawn for a first home.
Is the First Home Grant still available?
No. The First Home Grant was discontinued in the Government's pre-Budget announcement on 22 May 2024. Older calculators and articles still showing a grant are out of date. The KiwiSaver first-home withdrawal itself is unchanged.
What is the Kāinga Ora First Home Loan?
A government-underwritten loan that lets eligible buyers purchase with a 5% deposit instead of the usual 20%. Issued by partner banks, income capped at $95,000 for an individual without dependants and $150,000 for an individual with dependants or two or more buyers combined. Kāinga Ora's current eligibility criteria list income caps and a minimum 5% deposit, and the lender's own affordability tests still apply.
Can my partner and I both withdraw KiwiSaver?
Yes. If you are both KiwiSaver members, you can each make a first home withdrawal from your own accounts provided each of you individually meets the 3-year membership rule. Each must leave $1,000 in their own account.
I've owned a home before — am I out?
Not necessarily. If Kāinga Ora determines your financial position is equivalent to a first home buyer (KiwiSaver Act 2006 Schedule 1 clause 8(3)(c) — often called 'second-chance' or 'previous home owner'), you can still make the withdrawal. You'll need a Determination of Eligibility letter before your provider releases funds.
How long does the withdrawal process take?
Once you have a signed sale and purchase agreement, contact your KiwiSaver provider. Funds are paid directly to your solicitor's trust account, not to you personally. Ask your provider how long the release takes.
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