In the context of banking and corporate finance, ICD stands for Inter-Corporate Deposit. This refers to an unsecured short-term loan or borrowing arrangement where a corporate entity with surplus funds lends directly to another corporate entity in need of working capital. Because these deposits are uncollateralized and typically bypass traditional bank intermediation, they usually command higher interest rates than standard bank certificates of deposit and carry distinct credit risks based on the short-term financial standing of the borrowing firm.