However, four out of 10 say they do not have any money left at the end of the month to put into savings, according to digital bank Monzo.
A survey commissioned by the bank found that 65pc of adults in this country plan to save more this year, but a third of those who are already savers are earning no interest on their money.
The research, which was conducted by Censuswide and surveyed 1,000 Irish adults, found 11pc do not know whether they earn interest on their savings.
Monzo has a banking licence from the European Central Bank and is regulated by the Central Bank of Ireland.
Surveyors found that 39pc of respondents said they have no money left to save at the end of the month. Thirty-five per cent avoid interest-earning accounts because they want instant access to their money.
If instant access interest-earning accounts were available, they would set aside an additional €40 a month. This works out at €486 a year per person.
Scaled nationally, this would unlock €1.5bn in additional savings each year that they could earn interest on, Monzo said.
Monzo is the latest deposit taker to enter the savings market in this country. Its instant-access account offers an annualised rate of 1.6pc.
Last year, Moco, which is owned by Austrian bank Bawag, entered the savings market here, offering rate of up to 2.6pc.
Later this month Spanish-owned Bankinter, formerly Avant Money, is expected to offer a deposit offering.
Berlin-based Raisin Bank is offering 3.10pc annual equivalent rate for three months with its Starter Account. The offer applies to new customers.
Monzo, which has set up its EU headquarters in Dublin, is expected to begin offering current accounts for individuals as well as children and joint accounts in this country.
Country manager for Ireland, Elaine Deehan, said: “We know from our first customers in Ireland that saving can be a headache, whether it’s wrestling with minimum deposits or feeling like your money is locked away.”
Recent Central Bank figures show that Irish households have close to €170bn in household savings.
Despite this, most of the savings were held in overnight accounts, earning just 0.13pc interest on average.
source