I sincerely hope the Major Tech MTD8 geyser timer is a good quality product or it will be costing you even more.
Make sure you keep a record of your purchase and note the date on the device with a sticker, that is if the Electrical Shop you bought it from hasn't already.
Geyser timers I have had flake out within the first 2 years of purchase, like the CBI Timers of which I have 2 faulty ones.
The one in my board at the moment is faulty. It keeps its program but if the power goes off it loses the time which means the program you set is worthless until you reprogram the time again.
Very frustrating as it means the cost of calling in the electrician to replace the unit plus its out of warranty so the cost of a new timer too.