Its new term deposit account has a rate of up to 2.1pc for money left on deposit for 12 months.
The neobank said its new rate outperforms “nearly all major national banks”.
Term deposits require customers to lock up their cash for pre-determined timeframes.
The headline 2.11pc rate applies to 12-month deposits, while a lower 1.76pc for money left on deposit for three months.
The Dutch-online bank said rates of 1.86pc apply to six month deposits, with a 1.91pc interest rate applying for customers who lock up their funds for two years.
Bunq executive Joe Wilson said: “We give our users an easy-to-use, regulated environment where savings and crypto live side-by-side, so they can take control of their money and shape the future they want.”
The neobank said the interest rate it is offering ranks with the “top five highest interest offerings” among international financial institutions.
European players are to shake up the Irish savings market with new accounts being launched in a move that that will be welcomed by depositors.
Raisin, which acts as a marketplace for savings accounts across Europe, said last week its partner banks continue to increase their savings rates.
TF Bank from Sweden and Morrow Bank from Norway increased their rates.
TF Bank raised their easy-access demand deposit to 2.17pc AER (annual equivalent rate), and Morrow increased its 24-month fixed-term deposit to 2.56pc AER.
Raisin Ireland gives Irish savers access to offers from 30 banks across Europe, we’re confident we have a savings account to suit everyone’s goals.
New customers can now get an introductory rate of 3.10pc AER with the Raisin Starter Account.
It comes after MoCo, a mortgage lender owned by an Austrian bank, has launched what it calls an easy-access account offering savers in this country a rate of 2pc.
Spanish-owned Avant Money is also launching a savings account here in the coming weeks.
Savers have more than €160bn on deposit in Irish banks.
Daragh Cassidy of price comparison site Bonkers.ie said the Irish savings market has seen a noticeable pick-up in activity in recent months.
“MoCo and Avant Money have both entered the market with savings products, while Raisin has launched a competitive short-term offering. As a result, Irish savers now have more choice than they’ve had for quite a long time.”
He said the new rates from Bunq are competitive by current standards.
“But with inflation running at over 3pc in Ireland, and savings interest taxed at 33pc, most savers will be looking at an after-tax return of well under 1.5pc. So in real or inflation-adjusted terms, that means the value of their savings is still falling.”
Mr Cassidy said people with large sums sitting on deposit should consider investing their money to try achieve stronger longer-term returns.
“But the Government needs to make investing far more attractive for the average saver and reduce the punitive 38pc tax on investment returns,” he said.