A CIBIL score of 550 or less is insufficient to take a personal loan from a conventional financial institution. This score indicates that you have not been responsible while handling your credit. Most financial institutions need a CIBIL score of 750 or more for a personal loan. Nevertheless, one can secure a personal loan with a CIBIL score of 550 or less by showcasing proof of a good income, salary hike, responsible spending habits and few liabilities.