Tap your account avatar at the top-left of the screen to open the Folder Drawer.
Your folders for the current account are listed there — provider (system) folders like Inbox, Drafts, Sent, Trash, Spam, Outbox, and Archive/All Mail appear first, followed by your custom folders. Custom folders can be renamed, deleted, or created.
If you have multiple accounts, see your Unified Folders to view folders across all of them at once.
Note: For IMAP accounts, the Inbox syncs regularly. For EAS accounts, the Inbox and Sent folders sync by default — you can enable syncing for other folders.