KiwiSaver First Home Withdrawals and HomeStart Grant
KiwiSaver First Home Withdrawal
If you’ve been a member of KiwiSaver for 3 years you may be able to withdraw some of your KiwiSaver savings and apply them toward the purchase of a first home. You may be able to withdraw the current value of:
Your employer’s contributions (voluntary and compulsory)
Returns on investment, and
And member tax credits
…provided you leave a minimum balance of $1000 in your account.
KiwiSaver HomeStart Grant
Many people are not aware of this grant, or they get confused between the grant and their KiwiSaver account.
How does the HomeStart grant work?
After three years of regularly contributing to KiwiSaver (of at least the minimum allowable percentage of your total income) you may be entitled to the HomeStart grant.
You can apply for the HomeStart grant or pre-approval if you have belonged and contributed to a KiwiSaver scheme, complying fund or exempt employer scheme for at least three years.
If you are purchasing an existing/older home, the HomeStart grant is $1,000 for each year of contribution to the scheme:
3 years of contributing = $3,000 (the minimum you can get)
4 years of contributing = $4,000
5 years of contributing = $5,000 (the maximum you can get)
If you are purchasing a new home, a property bought off the plans or land to build a new home on, the HomeStart grant is $2,000 for each year of contribution to the scheme. If you are purchasing land to build a new home on, there is a maximum amount the combined land and new home can cost.
3 years of contributing = $6,000 (the minimum you can get)
4 years of contributing = $8,000
5 years of contributing = $10,000 (the maximum you can get)
Please note that there are other eligibility criteria (such as income caps and house price caps per location) to meet in relation to this grant. You can find the list of eligibility criteria at