We’ve been helping Simplicity KiwiSaver members take their first step into home ownership with low-cost, floating-rate home loans since 2019. Now, we’re expanding the offer - making it possible for members still living in their first home to refinance.

Qualifying members can now enter our new First Home Loan refinancing ballot for the opportunity to refinance their existing home loan at one of New Zealand’s lowest floating rates -recently reduced from 4.55% to 4.20%, with no penalties for early repayment.


Why we’re doing this

It’s simple. Members asked for it, and we’ve listened.

Refinancing supports members who’ve already bought their first home but want to reduce costs and pay off debt faster. For our investors, these high-quality, low-risk mortgage loans also help generate good, risk-adjusted returns. It’s a win-win — lower costs for borrowers and better outcomes for members overall.

Here’s to good investments, and cheaper mortgages!


How the ballot works

Eligible members living in their first home can enter a monthly ballot for an invitation to apply. The draw takes place on the first working day of each month, and selected members will have three months to complete their application.

To enter, simply:

1. Log in to the Simplicity member app.

2. Click through to your KiwiSaver account and go to the Home Loans section.

3. Follow the prompts to enter the refinancing ballot.

If your name is drawn, you’ll be invited to apply for one of our low-cost first home loans. 

For full details and eligibility criteria, visit our Home Loans page. Any questions, get in touch with the team at homeloans@simplicity.kiwi