Power saving

Ways you could boost your savings to help you get that first home.

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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. 

Kāinga Ora First Home Grant

You may be eligible for a First Home Grant of up to $5,000 if you purchase an existing home or up to $10,000 if you buy a new home or land to build on. To apply for a First Home Grant you need to check you are eligible.

If you are eligible, there are two ways to apply:

  • Pre-approval - if you are still looking for a home to purchase
  • Full approval - if you have found a home you would like to buy

For more information or to apply, check out the First Home Grant page on the Kᾱinga Ora website.

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.

Open the door to a KiwiBuild home

KiwiBuild is a government programme to build affordable housing for first home buyers. Check to see if you're eligible for KiwiBuild.

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.


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.


How to hunt for the right home and who to talk to while you're looking.


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.

Get started

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.

Find a Home Ownership Manager near you.

Log in to book an appointment.

Give us a call

You can pick up the phone and call one of our home lending team, weekdays 8am-6pm and on Saturday 8:30am-5pm.

0800 100 600

+64 9 306 3000 for overseas

Manage loan online

Existing customers can view and manage loans, apply for a top up and more.

Log in to Home Central

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.