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What it means:
Kansas allows qualified first-time homebuyers to open savings accounts with certain tax advantages. Eligible contributions under this program may qualify for Kansas income tax deductions of up to $3,000 for single filers and up to $6,000 for joint filers if program conditions and requirements are met. See important program information below.
Designating a nbkc bank account as your first-time homebuyer savings account allows you to claim certain tax benefits if you are saving money to buy your first home. Eligible expenses include down payments and closing costs for a residence located in the state of Kansas.
Kansas state income taxpayers may qualify for a state income tax deduction. Consult a tax advisor or contact the Kansas State Treasurer’s Office for specific guidance on this program. Visit the Kansas State Treasurer’s Office website for full eligibility and program details.
How nbkc can help:
nbkc bank’s Money Market account is a great account to help you save for your first home! The nbkc Money Market account offers all the flexible options you need to save for your dream home. This account boasts most of the benefits of a checking account but with an even higher rate, no monthly fees, and no minimum balance fees.
3.00
apy1
Open your nbkc Money Market account today
Ready to start saving for your first dream home?
Don’t live in the State of Kansas?
Consult with your state’s taxing authority and tax advisor to see if your state offers a similar program, and if an nbkc account can help meet your homeownership goals.
You must meet certain requirements for this program and potential tax advantages, including being a qualified first-time homebuyer. Maximum contribution limits, account limits, and overall contribution limits under this program apply. Use of funds are restricted for qualified purposes only after the account has been established and funded for a certain period. Failure to adequately maintain the account could result in additional taxation and penalties. Full details can be found at https://kansascash.ks.gov/homebuyer.html.
Each individual taxpayer/account holder is responsible for the maintenance, reporting, and management of these accounts in accordance with state tax and other applicable laws and regulations. nbkc bank is not responsible for designating or managing these accounts as First-Time Homebuyer Savings Accounts with the State of Kansas or any other state, or for ensuring taxpayer/account holder qualifications, eligibility, or compliance with the program. Consult your tax advisor and your state’s taxing authority for advice.
1APY = Annual Percentage Yield. Rates effective as of 05/05/2025. Minimum balance required to obtain APY is $0.01.