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You have 5 YOE and I think you can leans towards your inclination of DS role as you would go as senior once you switch from here. You can think of seniority position (lead/manager) post you come in the range of 12-15 YOE. That's my POV
What are your current duties? Now a days data analyst are also called as BA. Data scientist would be different role altogether and it's most sought after now.
At present my role is a combination of data analytics, insights generation and using basic ML models as and when required.
The DS role is in a company which has just set up office in Bangalore. The lead analyst role is in a well established firm. Both have flat hierarchy and thus, growth/promotions will be slow. The way I see it, everything boils down to the learning curve which makes me slightly inclined towards the DS role. However I am wondering if I should consider the seniority and firm's reputation as a factor in the decision making or is this too early in career to think of such factors.
Any insights will be helpful!
Given the options you have my suggestion would be DS role. You can develop faster in a new unit with the sharp learning curve.
As for the brand reputation and designation it is a personal call.
Let us know what you went with?