I'd avoid the vegetable oil, UNLESS you're willing to clean the blade and re-apply the oil every few days at least, to keep it fresh. As DM mentioned, vegetable oil gets 'sticky' if left too long, and also goes rancid. When that happens, it can even become somewhat acidic, which will contribute to corrosion instead of prevent it.
My mother has an old set of Chicago Cutlery kitchen knives, with stainless blades and walnut handles with brass rivets. For years, she regularly oiled the handles with vegetable oil to keep them from drying out and cracking. That worked, but the handles are continually sticky and the brass rivets have always shown some green corrosion (verdigris) from the acidic oil.
Simple mineral oil is non-reactive; it doesn't oxidize and go rancid or cause any corrosion issues. For a simple and cheap solution to help protect your blades, that's what I'd likely be using. There are other dedicated rust-protectants for knives, guns, etc. which can work well; but at the least, mineral oil won't do them any harm like vegetable or other food-based oils.
David