What you’ll need

What you'll need to apply

• You must be over 18 and under 65.
• Your deposits and earnings can only be used to purchase or build your first home to live in. If you change your mind about purchasing or building your first home to live in and wish to withdraw your savings, the balance must be transferred into a superannuation fund of your choice.
• To withdraw your savings, you must have contributed at least $1,000 per year in four separate (but not necessarily consecutive) financial years, or be purchasing or building a home with someone who has.
• The product is only available to individuals who have never owned a home in Australia that they have lived in and have never opened a First Home Saver Account before (unless transferring from a First Home Saver Account at another institution).
• In order to receive the Government Contributions, you will need to be a full-time Australian resident.
• You must have a tax file number.
• There is a lifetime balance cap of $75,000 (indexed annually) for the account, once this cap is reached you will not be able to deposit any more funds.