Should i invest using SRS? what are some considerations?

How much is your annual income? Below 100k I would say don't bother, the tax savings aren't really worth it.

If you do contribute to SRS - then you should invest them, as opposed to just bank interest.

SRS as its name suggests, typically are used for retirement. You can only withdraw without penalty at age of 62, prevailing at time of first contribution.

Considering that, for most people, they can afford to take long time horizon.

So you can tilt towards higher risks, such as stocks, etfs, equities if you are young.