Flyback diode with 5V relay
The BTA54WS is a Schottky diode, but still in the parameter range.


Schottky diodes are the fastest and good as well. It will be helpful in rapidly switching load but rather costlier than the cheap 1N400x series. 

Chosen breakdown voltage of the diode shall be 8 to 10 times the supply. The peak current handling capability of 1N400x series are perfectly fine.