This paper presents a novel magnitude-selective affine (MSA) based digital predistortion (DPD) method for the performance investigation of multiband 5G new radio (NR) based analog radio over fiber link. The proposed MSA-DPD method is derived from the canonical piecewise linear (CPWL) based model by employing MSA functions, which can result in reduction of the number of multiplication operations and the model complexity. The 5G NR standard at 20 GHz with 50 MHz bandwidth and flexible-waveform signal at 3 GHz with 20 MHz bandwidth is used. A dual drive Mach Zehnder modulator having two distinct RF signals modulates a 1310 nm optical carrier using distributed feedback laser for 22 km of standard single mode fiber. The proposed MSA-DPD method is compared with the CPWL and generalized memory polynomial method. The experimental results are presented in terms of adjacent channel power ratio, error vector magnitude, number of estimated coefficients and multiplications suggesting that MSA-DPD method achieves a better performance as compared to CPWL and GMP models with much lesser complexity meeting the 3GPP Release 17 requirements.