After starry October nothing really shines this month. If we narrow down the candidates I'd have to choose from Mashou no Kao, High School Days, Sotsugyou Shashin 2 ~Raspberry Dream~, Tsuioku and Kindaichi Shounen no Jikenbo: Hihoushima Arata Naru Sangeki. Last one is out as PS1 exclusive (win version nowhere to be found). Sotsugyou Shashin 2 is out as a difficult type of game for modern players. Tsuioku is way too obscure. High School Days is a really nice game, but even warm vanilla school game can't really invoke much interest with poor graphics and no voicing. I can't believe myself, but I'm nominating Mink's Mashou no Kao as VN of November 1996. This crazy nymphet game has a strong personality and leaves a lasting impact through the years.
Kakyuusei and Es no Houteishiki are masterpieces of the month, but my favorite is Es no Houteishiki and furthermore it's played like a regular novel and can be enjoyed nowadays.
There aren't masterpieces this month. My personal favorite is San Shimai due to it being my first visual novel, but I rate DIES IRAE even higher and nominate it for VN of the Month.
There are no masterpieces this month. I would not like to nominate bakage a winner and I have a bad aftertaste from Start Trap and Shizuku, so VN of January 1996 is Ryuuki Denshou Dragoon