What is saving faith?

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From since the reformation we have said, and are familiar with, the phrase "Faith Alone" or "Sola Fide". But can you define faith?

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Can you define saving faith?

“Because faith is the only instrumental means by which we receive the righteousness of Christ and are so declared righteous heirs of eternal life, it is critical that we understand what saving or justifying faith is. After all, our Lord Himself warns that on that last day, some will believe that they have been servants of Christ but in fact will be cast out of the kingdom because they never actually believed in Him and hence never did His will.” - Tabletalk, June 19, 2017.
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