Guide

How much can you withdraw from KiwiSaver for your first home?

The short answer: almost all of it. You can withdraw your own contributions, your employer's contributions, the government contributions, and all the investment returns — everything except $1,000, which must stay in the account. Here is how to work out your real number.

Last checked October 2026

The rule in one sentence

If you qualify for a first-home withdrawal, you can take out your entire KiwiSaver balance minus $1,000. There is no cap based on the house price, no percentage limit, and no requirement to have contributed for a minimum number of years beyond the standard three-year membership rule.

What counts towards your withdrawal

  • Your own contributions — everything deducted from your pay or paid in directly.
  • Your employer's contributions — including the government-matched amounts.
  • Government contributions — every annual top-up you have received counts towards the house.
  • Investment returns — all the growth your balance has earned over the years.
  • Australian superannuation transfers — if you transferred an Aussie super balance into KiwiSaver, that can usually be withdrawn too.

What stays behind

A minimum of $1,000 must remain in your KiwiSaver account after the withdrawal. This is set by law and keeps your membership open.

If you have ever received a government contribution while not eligible (for example, during a period living overseas), that portion may be clawed back — your provider will confirm the exact figure when you apply.

A worked example

Say you have been in KiwiSaver for six years on an average wage. Your balance might look like this:

  • Your contributions: $18,000
  • Employer contributions: $18,000
  • Government contributions: $3,100
  • Investment returns: $9,500
  • Total balance: $48,600 — withdrawable amount: $47,600

How to find your exact number

  • Log in to your provider's app or website — your current balance is the starting point.
  • Subtract $1,000. That is your approximate withdrawal amount.
  • Ask your provider for a first-home withdrawal estimate. Most will give you an exact figure in writing, which your lawyer will need anyway.
  • Remember the balance moves with the market. The figure you see today is not the figure on settlement day — allow a buffer if you are buying soon.

Plan your deposit with the first-home plannerUsing KiwiSaver for your first home: the full process

Timing it with your purchase

You can use the withdrawal either for the deposit when you sign the sale and purchase agreement, or at settlement. Most buyers use it for the deposit, which means applying before you go unconditional.

Apply early — providers typically take 10 to 15 working days, and your lawyer needs the approval letter in hand before the money can be released. The funds are paid to your lawyer's trust account, never to you directly.

Buying with someone else

If you are buying with a partner or friend who also qualifies, you can each withdraw from your own KiwiSaver. Two balances of $47,600 become a $95,200 deposit — often the difference between a 10% and a 20% deposit, which changes the interest rate the bank offers you.

Put it into practice

First home deposit planner

See how your KiwiSaver and savings add up towards a deposit, and how long it will take.

Using KiwiSaver for your first home

The three-year rule, the paperwork, and how to time the withdrawal with settlement.

Withdrawal by provider

How ANZ, ASB, Milford and others handle first-home applications.

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Questions people ask

Is there a maximum I can withdraw?+

No. There is no upper cap — you can withdraw your whole balance minus $1,000, however large it is.

Do government contributions count towards the withdrawal?+

Yes. Unlike the old HomeStart grant rules, the standard first-home withdrawal lets you take out government contributions and their returns.

Can I withdraw if I have owned a home before?+

Possibly. Kāinga Ora can approve a withdrawal for previous homeowners who are in a similar financial position to a first-home buyer. You apply to Kāinga Ora for an eligibility determination before approaching your provider.

Does the withdrawal affect my KiwiSaver membership?+

No. Your account stays open with the $1,000 minimum, and your contributions continue as normal. You can build the balance back up for retirement.

How long does the money take to arrive?+

Allow 10 to 15 working days from a complete application. The money is paid to your lawyer's trust account, so build this into your settlement timeline.

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