"In him we have redemption through his blood, the forgiveness of our trespasses, according to the riches of his grace" Eph 1:7 ESV. Redemption is translated from the Greek "ἀπολύτρωσιν (apolutrosin)," meaning to ransom someone from captivity or slavery by payment. The noun, "apolutroo" means to let go free for a ransom, redemption. It is used here as a ransom from sin, guilt, and the power of sin's consequences, which Christ procured by laying down His life as a ransom. "Forgiveness of our trespasses" explains the nature of redemption and results from the atonement made by the shedding of Christ's blood on the cross. It also brings the hope of heaven and the Holy Spirit, which is the guarantee of our salvation. "According to the riches of his grace" shows God's favor toward repentant sinners, offering and securing salvation and eternal life.
Source: ESV Study Bible, Crossway. Hebrew-Greek Key Word Study Bible, AMG. Barnes Notes on Ephesians at biblehub.com
Source: ESV Study Bible, Crossway. Hebrew-Greek Key Word Study Bible, AMG. Barnes Notes on Ephesians at biblehub.com