How long will it take to save a house deposit?

It depends on your target, what you have saved, and how much you put aside each month, plus any KiwiSaver you can withdraw. This calculator projects the months to reach your goal and lets you adjust your savings to bring the date forward.

Can I use KiwiSaver for my first home deposit?

Many KiwiSaver members can withdraw most of their balance for a first home, subject to the rules. Including your expected withdrawal in the calculator shows how much sooner you reach your deposit goal.

How can I save a deposit faster?

Increasing your monthly saving has the biggest effect, followed by earning interest on your savings and using a KiwiSaver first home withdrawal. Try different savings amounts to see the date move.

Home Deposit Timeline Calculator

This calculator works out how long it will take to save a deposit for your first home in New Zealand, and shows what brings that date forward. You enter your target deposit, how much you already have saved, how much you can put aside each month, the interest rate your savings earn, and any KiwiSaver balance you expect to withdraw under the first home withdrawal rules. From these figures it projects your starting point, made up of savings plus KiwiSaver, how much you still need to save, the interest you are likely to earn as your balance grows, and the total time in years and months until you reach your goal. It adds your monthly contribution and interest to your balance each month until the target is hit, so you can see the effect of saving more, earning a better rate, or adding a KiwiSaver withdrawal. Try lifting your monthly saving to see how many months it shaves off the timeline, or add your KiwiSaver amount to see how much sooner you could get there. If your savings and KiwiSaver already cover the target, the calculator tells you so. Because it relies on the figures you enter and assumes a steady saving pattern and interest rate, treat the result as a planning estimate, and check your KiwiSaver eligibility with your provider before relying on a withdrawal amount.

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Target deposit

Current savings

Saved per month

Savings rate

KiwiSaver available

to reach your deposit goal

Starting point (savings + KiwiSaver)$0

Still to save$0

Interest earned on the way$0

KiwiSaver first home withdrawal is subject to the rules, including a minimum amount that must be left in the account, so check your eligibility. Interest is applied monthly on your growing balance. Estimate only, not financial advice.

How it works

The calculator starts with your current savings plus any KiwiSaver you can withdraw, then adds your monthly saving each month and applies interest on the balance. It counts the months until the balance reaches your target deposit. Increasing your monthly saving is usually the fastest lever, while interest and a KiwiSaver withdrawal both bring the goal closer. If you already have enough, it tells you that too.

Worked example

With a $120,000 target, $25,000 saved, $30,000 of KiwiSaver available, and $1,500 saved a month at 4% interest, you start at $55,000 and need $65,000 more. That takes about 3 years 1 month, including roughly $10,700 of interest earned along the way, around seven months sooner than the 3 years 8 months it would take with no interest. Lifting the monthly saving shortens it noticeably.

Related calculators

Deposit Gap Calculator: the gap to your deposit.
First Home Buyer Calculator: plan a first home.
KiwiSaver First Home Withdrawal Calculator: your withdrawal.
Savings Calculator: savings growth.

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