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Yes that is possible, another option would be to allow JPG, PNG and GIF but then convert to JPG if user is normal, if premium then proceed with GIF.can i limit for Regular Banner just .jpg and .png (static) and for allow Premium .gif (animated) Banner ?

This is not possible with the core Visiolist product, but you could write your own custom code to accomplish this.can i limit for Regular Banner just .jpg and .png (static) and for allow Premium .gif (animated) Banner ?
// Regular disallow gif
if ($upload_mode == 1 && $extension == "gif") {
$TMPL['user_cp_upload_errors'] = "<h1 class=\"user_cp_upload_error\">Gif is disallowed for regular users</h1>";
$errors = 1;
}