One who dwells in the Fear of God, lives in the Fear of God, and acts in the Fear of God.
ਐਥੈ ਸੁਖੁ ਵਡਿਆਈਆ ਦਰਗਹ ਮੋਖ ਦੁਆਰ ॥
aithai sukh vadi-aa-ee-aa dargeh mokhdu-aar.
He obtains peace and glorious greatness here, in the Lord's Court, and at the Gate of Salvation.
ਭੈ ਤੇ ਨਿਰਭਉ ਪਾਈਐ ਮਿਲਿ ਜੋਤੀ ਜੋਤਿ ਅਪਾਰ ॥
bhai tay nirbha-o paa-ee-ai mil jotee jot apaar.
Through the Fear of God, the Fearless Lord is obtained, and one's light merges in the Infinite Light.
ਨਾਨਕ ਖਸਮੈ ਭਾਵੈ ਸਾ ਭਲੀ ਜਿਸ ਨੋ ਆਪੇ ਬਖਸੇ ਕਰਤਾਰੁ ॥੧॥
naanak khasmai bhaavai saa bhalee jis no aapay bakhsay kartaar. ||1||
O Nanak, that bride alone is good, who is pleasing to her Lord and Master, and whom the Creator Lord Himself forgives. ||1||
Translation by Dr. Sant Singh Khalsa
In plain words
Even one the world ranks lowest reaches her Beloved,
when she reflects on the Word and says the Name day and night. She who meets the teaching lives in awe of the One and becomes truly noble; she alone grasps the Beloved's Will whom grace has blessed. By awe of the One, the grime washes off and the body comes clean; the soul is lit, the mind exalted, meditating on the ocean of goodness. Living in awe, one gains the Fearless One, and light merges in Light. Nanak says: that soul-bride is good who pleases the One, whom the One itself forgives.
The lowest-ranked reaches the highest by love — and reverent awe of the One is the very thing that ends all other fear.
The deeper layer
A landmark Shalok fusing equality with the raag's teaching on bhau (awe). "The milkmaid's status is very low, but she attains her Husband Lord" — the lowest-ranked reaches the highest, by love. And the mechanism is awe: "through the Fear of God, the Fearless Lord is obtained." This is Nanak's great paradox — reverent awe of the One is the very thing that ends all fear, because it re-sizes everything and dissolves the ego that fear feeds on. The low-born, filled with awe, becomes "noble."
A Question to Sit With
How could a deep respect for what's truly big actually make you less afraid of everything smaller?