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Why has HSBC's Regular 8% Saver only paid 3ish%?

Hi all.

Last year, I set up a regular account with HSBC, the account where you get paid 8% interest for amounts you lock away. The maximum amount you can invest is £250 per month, and so £3000 p/a. I invested the maximum amount every month, so £3000 for the year.

The funds matured a few days ago, but instead of expecting £240 in interest (8%), I received £103. Setting it up was very easy as I remember and so I'm really unsure why I have not received the interest I was otherwise expecting.

Does anyone know why this is or have HSBC shafted me on this one?
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