Please help me pick the right Arduino to purchase -

I'm About to start a project and just want to buy the right gear for the job.
My project consists of simultaneously getting input data from 5 small Rotary Encoders
and simultaneously controlling 5 simple small servos.
For what it's worth the the Rotary encoders don't directly control the servos.

I'm new to hardware development so any help would be nice.

Any arduino will do, since you only seem to need 5 inputs and 5 outputs. I would advice uno, leonardo, a (pro) mini, nano, it depends what size you like the board to have. Check out: