Since introducing saved posts back in December, Instagram is now adding a new feature to help you organize your saved posts.
With the 10.16 update, you’ll be able to save posts into private collections that you create. You can create and a new collection when you save a post, or you can create collection using your existing saved posts.
To access your collections, you’ll find them on your saved posts tab on your profile. The 10.16 update of Instagram with the new collections feature is now available on Google Play and the App Store.
Source: Instagram