Savers can still earn 5.00% on easy-access cash even after the Bank of England raised Bank Rate to 4% on Thursday 5 November, but only if they move their money away from the big banks, according to MoneyfactsCompare.

The Bank's Monetary Policy Committee voted 8-1 to lift Bank Rate from 3.75% to 4%, its first increase in more than three years. The next decision is due on 17 December. A higher Bank Rate usually pushes savings rates up over time, but the pass-through is uneven, and the gap between the best and the worst accounts remains wide.

The top easy-access rate held at 5.00% AER this week, offered by LemFi and by Starling Bank, although Starling's rate applies only up to £25,000, includes a six-month bonus and requires its current account. The best rate with no bonus is 4.57% AER from Oxbury Bank, for new customers with at least £1,000.

That compares with an average easy-access rate of just 2.56%, and an average of 1.16% across the big banks' most flexible accounts — Barclays pays 1.00%, HSBC 1.04%, Lloyds 0.75% and NatWest 1.00%. Money left in a closed or old account can earn far less than the same money in a best-buy account.

Locking money away pays more. MoneySavingExpert reports one-year fixes from around 5.1%, two-year fixes at 5.3% and five-year fixes at 5.4%, while the top easy-access Cash ISA pays 4.87% AER. Rates were checked on 2-3 November and providers can change or withdraw deals at any time, so savers should check the rate on the day before opening an account — and note whether a headline rate depends on a bonus that falls away after a few months.