Overall meaning :
Have you not seen, Muhammad, the hypocrites who say to their fellow unbelievers among the Jews of Banu An-Nadheer, ‘If Muslims drive you out of your homes, we will go forth with you out of Madeenah, and we will never obey Muhammad concerning you, or anyone for that matter, who asks us to let you down; If Muhammad and those with him fight against you, we will certainly support you against your enemies’? Allah bears witness that they are truly liars!
If the Jews of Banu An-Nadheer are driven out, these hypocrites will not go forth with them; and if they are fought against, they will not assist them in any way. Indeed, even if they did come to their assistance, they would surely turn tail and flee in utter defeat; then they would not be helped.
Their dread of you, believers, is more intense in their hearts than their fear of Allah. That is because they are not aware of Allah’s greatness and His perfect power.