Knowledge and meditation aim at the realization of the Supreme Parabrahman / Moksha. Moksha is not the effect or product of knowledge, it is knowledge itself. Moksha is neither a mass of consciousness nor self-consciousness. Moksha is the very life and order of the Universe, ever present, unchanging.
Meditation on the nirguna brahman is the greatest eye-opener. It casts away the veil of maya and the jiva (soul of the meditator) realizes its identity with the brahman. This state of realization is known as Sadyo Mukthi - Immediate Liberation. It happens to very few. The instant illumination is a unique experience. There is no gradual stages in Sadyo Mukthi. It is at once being Brahman.
Then there is Jivan Mukthi, which means liberation when one is still alive. When the gross body of the jivanmuktha dies, the jiva attains Videha Mukthi. The jiva then drops off the subtle body (mind) and leaves the cycle of samsara for good.
The Jivan Muktha is in the highest state of knowledge (Jnana) - the state of self-absorption, non-related and self- identical (I am that I am). There isn't much difference between the jivan muktha and videha muktha, because a jivan muktha is unaware of his body. He still dons a body due to the lingering traces of Prarabda Karma.
Upasana on the saguna brahman also leads to mukthi - but not directly or immediately. When the gross body dies, the jiva (soul) along with the subtle body is led to the brahma loka (the loka of brahma not Brahman), along the deva marga (the path of light). The sense of duality of the jiva continues. The jiva along with its subtle body enjoys the proximity with the saguna brahman, which is now called kaarya brahman/ hiranyagarbha/ prajaapati etc. The jiva that has been to brahma loka does not have to re-enter samsara. This is considered as a step towards final mukthi. So termed Krama Mukthi.