Sure, it will make sense to let your money work harder for u elsewhere. Why don't u top up your special account instead? For the first $60k in your CPF combined balance (with only up to $20k max from OA), the monies will earn an extra 1%. You didn't mention your age, so not sure how close u are to the limit yet. In additional u will receive tax relief for the topped up amount (same as SRS). Eg, your taxable income is $40k, for every dollar u earn above 40k is taxed at 7%. Therefore, if u topped up $1000 into your special account, u get $1000 tax relief, u saved 7% of $1000 = $70 tax money. Effectively have gotten 7% return on your money, in additional u will earn 4%-5% interest yearly guaranteed. Risk-free, regardless of market conditions. If your income is in the higher bracket, u will effectively earned more. Tax relief earned this way has a cap of $7k a year. So after u have topup $7k, u can take a look at other ways (such as SRS). SRS u will have to take risk on your money, 5% return average might not be certain even for the long run. Since u are not using CPF to pay your mortgage, u might want to consider transfer your OA to SA to earn a higher interest rate. Otherwise your OA earns 2.5%, but your loan is 2.6% (I assume is HDB loan?), so u are losing 0.1%. It will be more worth to use your OA to pay off your mortgage. Unless u are taking bank loan with is still below 2.5%.