The album hit No. 3 on the UK charts, reached No. 24 on the US charts, selling around 380,000 copies and did not go gold.
CCM Magazine described the album as an "open declaration of Dylan's deepening faith." Writing for
Rolling Stone,
Kurt Loder praised Dylan's backing band, but felt that several songs were hampered by overtly religious messages, although he did single out "In the Garden" for having a "lovely, billowing arrangement". Loder stated that Dylan's efforts at a gospel album were not as remarkable as others "not just because he lacks the vocal equipment but because he's too inventive, too big for the genre", but summarised
Saved as a gospel work with "some distinction". In 2020,
Rolling Stone included
Saved in their "80 Greatest albums of 1980" list, praising Dylan for being "at the peak of his vocal powers, and he’s rarely played with a better bunch of musicians".
Record World said of the single "Solid Rock" that "Dylan's latest inspiration is perhaps his greatest, as evidenced by this compelling rocker." In 2014, Tom Hawking of
Flavorwire included the album in his list of "The 50 Worst Albums Ever Made", in which he said the album was "proof that even our greatest songwriters fall to pieces when they try to make Christian music." ==Track listing==