Hell has frozen over: Telstra is currently offering NBN 500 for AU$69p/m

(Image credit: Stephen Lambrechts / Tom's Guide) Well, look what the cat dragged in. It's deals season, and in a surprising turn of events, Australia's largest telco, Telstra, has joined in on the discounting fun.From now until November 2, 2026, Telstra is slashing up to AU$240 off its NBN plans during the first six months of service. The telco, which owns 35.2% of Australia's wholesale NBN market share, is synonymous with premium pricing, plans and perks, so these savings are pretty valuable (and rare, if I'm being honest).The most enticing deal is Telstra's NBN 500 plan, at AU$69p/m for the first six months. You'll save a nice AU$180 before the price increases to AU$99p/m ongoing, and it costs the same as Telstra's current offers on the NBN 50 and NBN 100 tiers. This means if you have an FTTP or HFC connection at home, you can get up to 10x faster internet for the same price as Telstra's slow 50Mbps plan.The only catch? You'll need to BYO modem to sign up for Telstra's NBN 500 plan. If you want to add Telstra's Smart Modem 4 to your plan, you'll need to pay AU$360 upfront. You can opt for a version of the same plan that incorporates the modem's price, though, at AU$79p/m (for 6 months, then AU$113p/m ongoing).That's not the biggest dealbreaker, though — we typically suggest BYO modems, especially if you want to shop around for a better NBN deal when the introductory offer ends — however, Telstra's ongoing price is high.Compared with the other 30+ NBN 500 providers I monitor, Telstra's ongoing price is AU$2.50 more than the average AU$96.43 monthly cost. Especially when pitted against budget providers that offer the same no-frills internet-only service, there are several ISPs that offer a better deal in the long run.For example, Exetel's NBN 500 plan is just AU$80p/m ongoing, with no introductory offer or increase in sight. The plan doesn't include a modem or any other fancy perks, but it is AU$36 cheaper in the first year and AU$228 in the second, putting AU$264 back in your pocket to go towards a new modem or mesh Wi-Fi system.But no matter how you slice or dice it, if you're ready and willing to join Australia's largest telco, this is a good opportunity to do just that. Not in the market for an NBN 500 plan? You can check out Telstra's other NBN deals below. Follow Tom's Guide on Google News and add us as a preferred source to get our up-to-date news, analysis, and reviews in your feeds. Subscribe to Tom's Guide on YouTube and follow us on TikTok. More from Tom's GuideBest NBN deals in Australia October 2026Best NBN plans in October 2026: I've compared the top choices for value, speed, gaming and more Get instant access to breaking news, the hottest reviews, great deals and helpful tips. Lucy Scotting is a staff writer for Tom’s Guide Australia, primarily covering lifestyle, streaming and internet-related news. Lucy started her career writing for HR and staffing industry publications, covering emerging tech, business and finance. In her spare time, Lucy can be found watching sci-fi movies, working on her dystopian fiction novel or hanging out with her dog, Fletcher.