Galatians 5:6
6 For in Jesus Christ neither circumcision availeth any thing, nor uncircumcision; but faith which worketh by love.
Charles Bing - Grace, Salvation, and Discipleship - Faith Working Through Love, Galatians 5:6
(Salvation) Interpretation: Genuine saving faith must demonstrate love.
(Discipleship) Interpretation: Christians are not sanctified by keeping the law, but by allowing their faith to demonstrate love.
An important question to answer here is what "avails anything" refers to. The word "avails" (ischuō) means is able to do or accomplish something. Paul is asserting that faith and love do accomplish something. Is "faith working through love" able to accomplish or prove salvation for someone? If so, salvation would be on a performance basis.
Salvation or proving salvation can't be the issue, because in this section, Paul is talking about the Galatians' sanctification experience, not their justification (that discussion was in Galatians 3:1-9). Besides, his statement is about those "in Christ," a clear reference to believers. The issue is whether Christians can be sanctified by the law (represented by circumcision) or by grace. But it is not whether a Christian is circumcised or not circumcised that accomplishes sanctification, only whether he is exercising his faith by loving others. Those who think that keeping the law (getting circumcised) will produce righteousness in their lives are not trusting in Christ; they have departed from grace and its powerful benefits (Gal. 5:2-4; see above). Righteousness in the Christian life is only produced through faith (Galatians 5:5), and the chief way that faith can be exercised is in loving others (Galatians 5:6; cf. Galatians 5:13-14).
The (Salvation) perspective on this passage is confusing and wrong about how a person is saved. The (Discipleship) perspective is a powerful principle for believers: When our faith expresses itself in love, we grow in righteousness to be more like Jesus Christ, the Righteous One.