Fear (phobos). Like a bond-slave (Rom 8:15), not the reverence of a son (eulabeia, Heb 5:7.) or the obedience to a father (en phobōi, 1Pe 1:17). This kind of dread is the opposite of parrēsia (boldness).
Perfect love (hē teleia agapē). There is such a thing, perfect because it has been perfected (1Jo 4:12, 1Jo 4:17). Cf. Jam 1:4.
Casteth out fear (exō ballei ton phobon). “Drives fear out” so that it does not exist in real love. See ekballō exō in Joh 6:37; Joh 9:34.; Joh 12:31; Joh 15:6 to turn out-of-doors, a powerful metaphor. Perfect love harbours no suspicion and no dread (1Co 13:1-13).
Hath punishment (kolasin echei). Old word, in N.T. only here and Mat 25:46. Timōria has only the idea of penalty, kolasis has also that of discipline, while paideia has that of chastisement (Heb 12:7). The one who still dreads (phoboumenos) has not been made perfect in love (ou teteleiōtai). Bengel graphically describes different types of men: “sine timore et amore; cum timore sine amore; cum timore et amore; sine timore cum amore”