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NAB x Oly novated lease offer

$250 to eligible NAB business customers and $500 to their employees*.

Why choose an Oly novated lease

Imagine putting your employees behind the wheel of their dream car while also giving them the opportunity to save thousands of dollars in tax every year. That’s an Oly novated lease, and it’s an incredible perk you can offer to help your employees get the most out of their salaries.

A novated lease allows employers to facilitate car lease payments through payroll, including potential pre-tax salary packaging deductions, while the employee remains responsible for the lease agreement. Oly goes even further, assisting business with onboarding, payroll administration and set up via Oly’s Business Hub and AutoPay. It’s all at your fingertips with the Oly mobile app. Oly offers both your business and your employees a simple, digital service backed by Oly’s phone and online support team.

NAB’s partnership with Oly gives small business customers access to $250* each time an employee takes out a novated lease. The Employee will also receive a $500 Oly one credit*. If you’re a sole trader and eligible, yes you get both the $250 as the employer and the $500 as the employee!

Novated leases: what’s in it for my business?

Oly takes you through the details of novated leasing and shows you how easy it is to offer it to your team.

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How to claim your credit as a NAB customer

1. Register with Oly

Create an account with Oly to access your Oly Business Hub, a secure, digital one‑stop shop where you can communicate with Oly, view agreements, access reports, and explore their comprehensive help centre with videos, guides and FAQs.

Oly will send you some information that you can share with your employees about NAB's exclusive offer.

3. Review the benefits and select the right vehicle.

Explore how a novated lease may help you or your team save on tax and determine whether it’s the right solution for you. Use Oly’s online tools and quotes to compare vehicles and estimate potential savings on your new lease.

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4. Approve the Novated Lease agreement

Once the lease is approved via Oly’s online portal, Oly will guide you through the remaining steps and handle the admin to help get the vehicle on the road quickly.

5. Set up Auto-pay

Add your NAB direct debit banking details, Oly AutoPay then manages the regular novated lease deductions automatically, so you can stay focused on running your business with less admin and less complexity.

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6. Employees receive their $500 credit

Once an Employee has settled a novated lease with Oly, $500 credit will be automatically deposited into their Oly one account.

7. Employers receive their $250 cashback

Once an Employee of a NAB business customer settles their novated lease, the $250 cashback will be automatically deposited into the Employers NAB bank account.

Help and support

Support is available when you need it within the platform or via phone with a dedicated NAB customer phone line

Oly offers a digital‑first experience, supported by tools, calculators, and educational guides designed to help you and your employees select the right vehicle, and make lease decisions with confidence.

If you need to contact an Oly customer service agent, you can call the direct NAB customer line 1300 404 508.

Oly provides helpful online resources and in‑platform guidance to assist you with profile setup, selecting a novated lease option, and navigating payroll setup through the Oly Business Hub - their centralised employer portal.

FAQs

What is a novated lease?

A novated lease is an ATO-approved way of financing a car that bundles payments for the car with eligible on-road costs like fuel or recharging, insurance, rego, servicing and even new tyres. By taking part of the payment from the employee's before-tax salary (or all before tax if they use a novated lease to score an eligible electric car), a novated lease could end up saving them thousands of dollars in tax every year.

Who is this offer for?

This offer is available to eligible NAB business customers and their employees.

How do I access this offer?

To access this offer, input your NAB BSB and account number as the nominated account on your Direct Debit payment method with Oly. The business will receive a $250 cashback the month following settlement and the employee will receive their $500 credit within 7 days of settlement. If you are the business owner and take out a novated lease, you will receive both amounts as credit totalling $750.

Can I access this offer if I don't bank with NAB?

No. This offer is only eligible to NAB customers.

Is the credit and cashback applicable to all my Oly novated leases?

The credit and cashback will only apply to new eligible Novated lease agreements made while the offer is valid with Oly.

How much is the credit and cashback?

The cashback will be $250 for the employer and $500 Oly one credit for the employee per novated lease agreement

Who do I pay?

All payments are made directly to Oly, in accordance with their terms and conditions.

Can I cancel?

Yes. You can cancel directly with Oly in accordance with their terms and conditions.

Is Oly a NAB product or service?

No. Oly is an independent provider. NAB is promoting this offer as a partner benefit for eligible customers.

Who delivers the platform, lease agreement and support?

All services, including the platform, lease agreement, and customer support, are delivered by Oly.

Does NAB see my personal data with Oly?

No. NAB does not access your Oly account, employee or business details.

Will Oly have access to my NAB bank account data?

No. NAB does not share your NAB bank account data with Oly.

What support is available if I need help?

Support is directly provided by Oly in the platform including tools, cost calculators, and educational guides to enable the customer to determine the best option for you or your employee.

Ready to drive?

Now’s the time to start your Oly novated lease journey.

Whether you're dreaming of an electric vehicle or just want to save on tax, Oly makes it easy.

Enter your details below and one of our leasing specialists will be in touch to guide you every step of the way.

No pressure. Just possibilities.

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Promotional note

Eligible NAB business customers can access exclusive cashback through NAB x Oly novated leasing. Request a callback from an NAB Business Banker or explore NAB Business Bank Accounts today.

Important information

The information contained in this page is correct as of June 2026 and is intended to be of a general nature only. It has been prepared without taking into account your objectives, financial situation or needs. Oly Pty Ltd (Oly) is not a NAB entity and NAB is not recommending the use of Oly or any of its products. Before acting on this information, NAB recommends that you consider whether it is appropriate for your circumstances and, if necessary, obtain independent legal advice.

Please contact Oly if you have any questions regarding the offer or any products offered under the offer.

All novated leases are subject to Oly’s terms and conditions. By obtaining a novated lease with Oly, you are entering into a contract directly with Oly, an independent third party. Oly is solely responsible for the novated lease and any other services it provides. NAB is not the provider of, and does not control, any products or services offered Oly. NAB makes no representations or warranties about the quality, suitability or fitness for purpose of those products or services.

NAB does not control and is not responsible for the content Oly’s website. The link to Oly’s website is provided for your convenience. By clicking links on this page, you will exit NAB website and be taken to Oly’s website. Any personal information you provide to Oly will be collected, used, disclosed, and secured in accordance with its privacy policy, and security practices.

NAB’s role is limited to making the offer information available to eligible customers. Any use of Oly’s products is at your own risk. NAB accepts no responsibility for any loss, damage, cost or expense (whether direct or indirect) incurred by you as a result of you acquiring Oly’s products. NAB or Oly may vary or end this offer at any time acting reasonably.

*NAB terms and conditions

$250 Employer cashback and $500 Employee Credit – Terms & Conditions (NAB × Oly Partnership)

1. Offer Overview Eligible customers who meet the NAB × Oly partnership offer conditions will receive:

• Employers: $250 cashback paid into their NAB business account

• Employees: $500 paid into their Oly one card.

2. Eligibility & Limits

• Available to eligible customers as determined by McMillan Shakespeare Group (MMSG) under the NAB × Oly partnership offer.

• Eligibility applies to

o Employers: NAB business customers with a NAB banking account who has an Employee that settles an Oly novated lease.

o Employees: Who’s Employer is a NAB business customer and proceed to settle a novated lease with Oly.

• If the Employer takes out and settles a Novated Lease with Oly, they are applicable for both the Employer and Employee cashback totalling $750.

• Employers are eligible for $250 each time an Employee takes out an Oly novated lease.

• Not valid with other offers unless explicitly specified.

• MMSG may withdraw, vary or cancel the offer where reasonably necessary (including ineligibility or misuse).

3. Cashback payment timing The payment of the amounts will occur as follows:

• Employers: in the first week of the calendar month following the Employee’s lease settlement.

• Employee: within 7 business days of settlement of the lease.

4. Tax Implications

• Customers should seek independent financial/tax advice.

• MMSG, NAB and Oly don’t provide tax advice and aren’t responsible for tax outcomes.

5. General

• Governed by the laws of Australia.

• Taking part in the offer means you accept these Terms & Conditions.

Things you need to know: This general information doesn’t take your personal circumstances into account. Please consider whether this information is right for you before making a decision and seek professional independent tax and financial advice. Conditions and fees apply, along with credit assessment criteria for lease products. The availability of benefits is subject to your employer’s approval. Oly may pay and/or receive commissions in connection with its services. Actual vehicle prices are based on specific vehicle and accessories, prices and savings may vary based on additional options selected with vehicle. Oly does not act as your agent or representative in respect of the purchase or lease of any vehicle. Oly does not provide any advice or recommendations in relation to the purchase or lease of any vehicle.