Boost your savings by optimising your account
Savings on Call
A savings account where your money is on call, giving you access to your savings, while still earning interest.
Term Fund
Similar to a term deposit but may offer a better after-tax return if you're on a higher income tax rate.
Term deposits
Earn a fixed interest rate for investing your money for a selected period of time with a term deposit. Simply choose the timeframe and how you want the interest to be paid.
ASB Cash Fund
Similar to Savings On Call but may offer a better after-tax return if you're on a higher income tax rate.
Four power tips for faster saving
1. Save small, save regularly
It's amazing how fast your balance can build up when you put a small pot of money aside regularly. Even $20 every week becomes more than $1,000 over a year.
2. Save on payday
Save before you spend it. Putting savings into a separate account each payday means you'll be less tempted to touch it! Setting up an automatic payment to your savings account, or a regular voluntary contribution to your KiwiSaver account are other options for you to consider.
3. Save faster by saving costs
Savings is income minus expenses. So, are there any expenses you could remove? Cutting out a few little luxuries can also help you stay focussed on your goal. You’ll be surprised how the little things quickly add up.
4. Save the Change
Save as you spend with ASB Save the Change. When you sign up, your electronic transactions are automatically rounded up to a chosen amount, whether it's $1, $2, $5, or $10. The difference is then transferred to your selected savings account. You won’t even notice it!
Boost your savings with the ASB KiwiSaver Scheme
If you're starting to think about saving for your first home deposit, here's how KiwiSaver could help.
- The government could contribute $521 each year.
If you are over 18 and mainly live in New Zealand, you may be entitled to the $521.43 annual Government contribution as long as you're also contributing. Find out more about the annual Government contribution here.
- Your employer may contribute too.
If you're between age 18 and 65 and making employee contributions to your KiwiSaver account, your employer may also contribute a minimum of 3% of your before-tax salary.
- Choosing the right fund could maximise your savings.
Choosing the right fund is an important part of achieving your savings goals. Use our simple tool that makes choosing a fund easy.
- A sweet little thing called investment returns.
Your KiwiSaver savings can generate returns that may often be higher than a savings account, helping your savings grow to get you to your first home savings goal faster. View past returns here. - Get advice
We have a team of specialists dedicated to helping our customers achieve their savings goals. These specialists are accredited to offer financial advice on your KiwiSaver savings and better yet – it’s free! Find out more here.
Not a member of the ASB KiwiSaver Scheme? Join in a few minutes.
Set your budget
The budget. Some may call it a fun-stopper, but as tricky as it can be, it's the best way to start making some serious savings.
See where you're at
By figuring out how much you're earning versus spending you can see realistically how much you can save for your house. You can use our Spend Tracker tool to see where your money's going. If you're planning to use your KiwiSaver savings it pays to check how much is going into your KiwiSaver account.
Build your budget
A budget gives you a plan for how you'll split your income out across your expenses and savings. Our handy How to budget blog or the Sorted budgeting tool can help you put one together.
Save a regular amount
To help you stick to your plan you can set up an automatic payment to transfer your savings to a separate account or directly into your KiwiSaver account (if you're eligible for a first home withdrawal) each payday.
Budget check in
When your goal is set and it's been a few weeks since you started budgeting, look at how it's going. Is it realistic? Do you need to make any minor adjustments? Once you're happy with where it's at, stick to it and watch your savings grow.
You may only need a 10% deposit
To get a home loan your deposit will generally have to be 20% of the property's value - but it all depends on your individual situation. You may be able to get into your home sooner with a deposit as little as 10%.
Get in touch with us when you're beginning to save to talk through your options.
You may be eligible for a low deposit loan
Depending on your situation, ASB may be able to lend to customers that have a deposit as little as 10% with a low equity loan.
If you're eligible for a low equity loan, there may be some extra requirements to think about, like the low equity margin, or having a family member as a guarantor.
Building instead of buying
If you can't find the right home, building one could be the way to go. If you borrow money to buy land and build a new home, then you also may not need a 20% deposit. Chat to us to figure out the best option for you.
Next steps
The first step on the property ladder is to be armed with the best advice before you start. ASB has all the tools for your dream home buying process.
Starting
Tips and tools for the first home buyer to help you plan, budget and save money. Use our mortgage repayments calculator to compare home loans, interest rates, terms and mortgage payments.
Power Saving
Ways you could boost your savings to help you on your journey to first home ownership.
Finding
How to hunt for the right home and who to talk to while you're looking.
Buying
Handy information for the lead up to and process of buying your first home.
We're here to help
Apply online
Start your home loan application online. We'll be in touch to complete the next steps with you.
Give yourself 5-10 minutes.
Meet in person
One of our team can meet at a time and place that suits you, or you can make an appointment to meet at an ASB branch.
Give us a call
You can pick up the phone and call one of our home lending team, weekdays 8:00am-6:30pm and on Saturday 8:30am-5:00pm.
+64 9 306 3000 for overseas
Manage loan online
Existing customers can view and manage loans, apply for a top up and more.
ASB Bank Limited’s lending criteria, terms, conditions and fees apply.
Maximum amount across all term deposits held either solely or jointly with any person is $10 million.
ASB Cash Fund and ASB Term Fund Terms and Conditions apply. Units in the ASB Cash Fund are issued by ASB Group Investments Ltd, a wholly owned subsidiary of ASB Bank Limited. Investments in the ASB Cash Fund are not deposits with ASB Bank. ASB Bank guarantees account balances and returns due but not paid (less fees and any PIE tax). The guarantee is unsecured.
Interests in the ASB KiwiSaver Scheme (Scheme) are issued by ASB Group Investments Limited, a wholly owned subsidiary of ASB Bank Limited (ASB). ASB provides Scheme administration and distribution services. No person guarantees interests in the Scheme. Interests in the Scheme are not deposits or other liabilities of ASB. They are subject to investment risk, including possible loss of income and principal invested. For more information see the ASB KiwiSaver Scheme Product Disclosure Statement available from this website and the register of offers of financial products at www.disclose-register.companiesoffice.govt.nz (search for ASB KiwiSaver Scheme).
Returns are a reflection of past performance and are not a guarantee or indication of future performance because returns fluctuate (move up and down). Returns can be negative and you may receive back less than the total amount of your contributions.