“In him we have redemption through his blood, the forgiveness of our trespasses, according to the riches of his grace,..”
Ephesians 1:7
“…in whom we have redemption, the forgiveness of sins.”
Col 1:14
Redemption Defined ~
“The action of regaining or gaining possession of something in exchange for payment, or clearing a debt.”Oxford Online Dictionary
Helps Word Study from the Discovery Bible
629 apolýtrōsis(from 575/apó, "from" and 3084 lytróō, "redeem") – properly, redemption – literally, "buy back from," i.e., re-purchase (winning back) what was previously forfeited (lost).
629/apolytrōsis ("redemption, re-purchase") emphasizes the distance ("safety-margin") between the rescued person and what previously enslaved them. For believers, the prefix (575/apó) looks back to God's effective work of grace which purchased them from the debt of sin, and bringing them to their new status of being in Christ.
In a biblical context, redemption describes the process by which individuals are freed from the bondage of sin through the sacrifice of Jesus Christ.
Salvation is entirely dependent on one's ability to believe in the redemption that has been provided through the death, burial, and resurrection of Jesus Christ. This is why Romans 10:9-10 delineates the belief required.
To redeem someone or something literally means to buy back. It means a price has been paid, the penalty is fulfilled, and the guilt is removed — but, removed from what? This becomes the question that we must answer. And to answer that, we must consider the beginning of mankind.
In the beginning, we have God’s creation of man. Made from the dust of the ground (physical flesh), God breathes into him His own breath of life (spirit), and man becomes a living (soul). Alive unto God, Adam and Eve now live in perfect harmony with God in this perfect environment, the Garden of Eden.
Through one man's disobedience, we find in Romans chapter five, a full explanation of how sin enters and reigns in the heart of every individual, meaning all require redemption. The book of Hebrews tells us in 10:5 that Jesus had a body prepared for Him to offer up as a sacrifice. His body and His blood became the price required to redeem man back to God.
From the disobedience of Adam and Eve in the garden, as described in Genesis 3, to the arrival of the Son of Man, Jesus Christ, and his ultimate death, burial, and resurrection, we begin to understand the need and story of redemption.
The life and blood of Jesus, poured out for the remission of mankind’s sin, becomes the acceptable price before God to redeem and restore mankind.
In him, we have redemption through his blood, the forgiveness of our trespasses, according to the riches of his grace, Ephesians 1:7 ESV
Once redemption was made, our belief is required for restoration. This restoration, as stated in Romans 10:9-10, brings salvation to everyone who calls upon that name.
For there is no other name given under heaven whereby men can be saved,
Acts 4:12. ESV
In summary, redemption is the act of freeing individuals from sin, while salvation is the assurance of eternal life and a restored relationship with God.