01
Am I eligible for a KiwiSaver first home withdrawal?
02
How much can I withdraw?
If you meet the eligibility criteria, you can withdraw your KiwiSaver savings, except for:
- $1,000 and
- Any amount transferred from an Australian complying superannuation fund.
To find out how much your KiwiSaver first home withdrawal amount might be, check your ASB KiwiSaver Scheme account balance in FastNet Classic internet banking or send us an enquiry. Remember to use it as an estimate only, as your KiwiSaver balance can fluctuate daily.
03
Getting your KiwiSaver first home withdrawal application ready
It takes around ten working days to process a KiwiSaver first home withdrawal application. The money is usually paid to your solicitor who will forward to the vendor on settlement day.
Here is a summary of the original documentation we will need from you and your solicitor:
The following evidence is also required if the below applies:
Previous home owner only
- An approval letter from Kāinga Ora that you qualify as a previous home owner.
Purchasing as a Trust
- Provide a copy of the Trust Deed to show that you are a trustee and beneficiary of the Trust.
Purchase of an interest in a building on Māori land only
- Evidence of your right to occupy the Māori land.
04
Things to note
Buying your first home is a big deal. With so much going on, it’s important you don’t get caught out on any details. Try to keep the following top of mind:
05
What happens after my KiwiSaver first home withdrawal?
After you've made your KiwiSaver first home withdrawal, you can continue to use your ASB KiwiSaver Scheme account to save for retirement. This is a good time to:
- Check your fund choice. Your circumstances are likely to be different now that you're saving for retirement. Use our simple tool that makes choosing a fund easy.
- Keep contributing. Your contributions and any employer and annual Government contribution will continue as normal. If you want a break from saving, you will need to make a contributions holiday request to Inland Revenue.
- Maximise your benefits. Check out our guide for helpful tips on making the most of KiwiSaver.
Join or transfer to the ASB KiwiSaver Scheme
Other helpful guides
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Frequently asked questions
Manage your ASB KiwiSaver Scheme account
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).
