If the interval is only to be set in minutes[0-60], then evaluate the below solution w/o creating the date object and in single loop:
var x = 5; //minutes interval
var times = []; // time array
var tt = 0; // start time
var ap = ['AM', 'PM']; // AM-PM
//loop to increment the time and push results in array
for (var i=0;tt<24*60; i++) {
var hh = Math.floor(tt/60); // getting hours of day in 0-24 format
var mm = (tt%60); // getting minutes of the hour in 0-55 format
times[i] = ("0" + (hh % 12)).slice(-2) + ':' + ("0" + mm).slice(-2) + ap[Math.floor(hh/12)]; // pushing data in array in [00:00 - 12:00 AM/PM format]
tt = tt + x;
}
console.log(times);