The ANZ First Home Saver Account provides a tax effective way for Australians to save for their first home through a combination of Government contributions, bonus interest and low taxes.
Bonus tiered interest calculated daily * and paid monthly when you make one deposit of $10 or more. View current bonus interest rates
Minimum initial and ongoing balance
N/A
Monthly account service fee
$0
How you can use the savings in a First Home Saver Account
You can only use your savings in three ways:
to buy your first home
as money you can add into super
as money you can withdraw as a lump sum if you are aged 60 or over
Access to funds
To withdraw funds to purchase a home, minimum contributions of $1,000 need to be made over the course of at least four separate financial years. Funds can be transferred into superannuation at any time.
Who can have the First Home Saver Account?
You should consider opening a First Home Saver Account if you:
only want to use your savings to buy or build your first home in Australia to live in ('buy your first home')
are able to save at least $1,000 a year ($20 a week) in 4 separate financial years - they do not need to be in a row. A financial year is from July 1 to June 30
To open an account, you must:
be aged 18 or over and under 65
have a tax file number
have never owned a home in Australia that you have lived in
have never opened a First Home Saver Account before
You can open another First Home Saver Account if you are transferring your savings from one First Home Saver Account to another.
Information about how First Home Saver Accounts work, eligibility, fees and taxes, and links to savings calculators and other useful online tools.
