Feature article
Where will your deposit come from?
Your deposit does NOT have to all come from one place.
AI summary
Sourcing a deposit for your first home is more flexible than you might think, with 5% and 10% options often available. Your deposit can come from several places.
Key sources include:
- KiwiSaver: A primary option for most, accessible after three years of contributions.
- Savings: Grown through term deposits for short-term goals or investments like ETFs for longer timeframes.
- Bank of mum and dad: Financial help from family as a gift or a formal loan.
Creative methods like selling items can also boost your savings.
“Comparison is the thief of all joy”
Where will your deposit come from?
1. KiwiSaver
2. Savings
BNZ featured term deposit rates 2024
Kernel Fund Performance as of August 2024
3. Bank of mum and dad
4. Other things
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