I am using photoshop.
I have tried by following this tutorial https://www.youtube.com/watch?v=LxbC5HKnT3o
But it doesn't seem to have the vintage/realistic touch to it.
Any help is much appreciated.
That is one awful tutorial.
Anyhow, print your graphic on a piece of paper, rip said paper, photograph or scan it. This will give the best result as far as the edge goes.
Alternatively, rip any piece of of paper, photograph it, use it as clipping masks and texture for your artwork. You'll want to offset the clipping mask from the edge so it has a better torn look, which again is why the first option is better.
To achieve the effect like in picture shown:
You will get the same effect as it is in picture above. Optional: Improvise using Bevel in the layer effects panel
Sorry, can't take screenshot from phone to make it easier for you.