NAB x Oly novated lease offer

What is a novated lease?

A novated lease is a salary sacrificing arrangement where an employee car lease and eligible running costs may be deducted from their pre-tax salary in certain circumstances. The lease is held in the employee’s name rather than the businesses.

Who is this offer for?

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 cashback within 7 days of settlement. If you are the business owner and take out a novated lease, you will receive both cashbacks totalling $750.

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. After the employee settles their lease, you will receive your $250 voucher and they will receive their $500 voucher. If you are the business owner and also take out a novated lease, you will receive both vouchers totalling $750.

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

No. This offer is only eligible to NAB customers.

Are the cashbacks applicable to all my Oly novated leases?

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

How much are the cashbacks?

The cashbacks will be $250 for the employer and $500 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.

Promotional note

NAB business customers are eligible for an NAB X Oly cashback applied to the business and employee novated lease account with each Novated Leases undertaken. See NABs range of Business Bank Accounts or submit a NAB Business Banking Call Back Request to be contacted by a NAB Business banker.

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 and $500 Employee Cashbacks – 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 cashback paid into their nominated bank account as per the bank details provided to Oly at the point of sign up.

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 too 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 cashbacks 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.